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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Warehouses
150 Commerce St Old Fort, NC 28762-0648
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-3102841
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,104 SF
Lot
2.44 ac (106,243 SF)
APN
0659-06-48-2723
UPID
US53-3102841
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$770k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$750k
Owner & transaction history
164 Commerce Street LLC · 4 yrs held
164 Commerce Street LLC
since 2022
Last sale
$728,500
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.1M
+40.7%
Restaurant
$970,000
+19.8%
Medical building
$865,000
+6.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Old Fort submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Old Fort submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$765,000
ML approach
$770,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$810,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,135,000
Change: +41% · Conversion: Difficult
RESTAURANT
$970,000
Change: +20% · Conversion: Difficult
MEDICAL BUILDING
$865,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$750k
Range $675k – $825k · ±10% · vs last sale $729k (May 2 2022)
Last sale anchor
$729k
May 2 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$62 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$898
Tax year 2024
Assessed value
$132,490
Assessed 2024
Previous assessed
$132,490
+0.0% YoY
Effective rate
0.68%
On assessed value
Assessed land
$74,630
Assessed improvement
$57,860
Land market value
$74,630
Improvement market value
$57,860
Total market value
$132,490
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Cooling
NONE
Stories
1
Bathrooms
4
Total area
12,104 SF
Lot
2.44 ac (106,243 SF)
APN
0659-06-48-2723
UPID
US53-3102841
Jurisdiction
MCDOWELL
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$810,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
RESTAURANT
Est. value
$970,000
MEDICAL BUILDING
Est. value
$865,000
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Cooling
Yes
Stories
1
Bathrooms
4
Lot
2.44 ac
Current owner
From public records · entity-resolved
164 Commerce Street LLC
Entity
Free & Clear · 4 yrs held
Mailing address
6 WELLEN WAY, ASHEVILLE, NC 28803-4506
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 2, 2022
$728,500
164 Commerce Street LLC
Mill Creek Properties LLC
Warranty Deed
—
Dec 30, 2021
$1,800,000
Eagle Market Streets Dev Corp Cdc
Mill Creek Properties LLC
Warranty Deed
$1,782,000 · Mill Creek Properties LLC
Oct 15, 2019
$300,000
Mill Creek Properties LLC
Brown & Sanders Ents LLC
Warranty Deed
$100,000 · Brown & Sanders Ents LLC
Feb 5, 2014
$55,000
Donald L Effler
Brown & Sanders Ents LLC
Warranty Deed
—
Feb 4, 2014
$55,000
Donald L Effler
Brown & Sanders Enterprises LLC
Grant Deed
—
Sep 30, 2008
—
Brown & Sanders Ents LLC
Brown,tony G & Dawn
Quit Claim Deed
related
—
Nov 20, 2007
$150,000
Tony G Brown
Ethan Allen Retail INC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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